Business International Uganda’s Shs330b locked up in tax disputes January 30, 2025 Ekemini A recent report on the Tax Appeals Tribunal’s effectiveness has revealed some concerning statistics. Between June 2022 and June 2024, the Tribunal received 368 tax appeal cases worth Shs404b, but…
Business International investment Decentralise PPPs to unlock Ghana’s devt — Former boss January 30, 2025 Ekemini Engineer Philip Lartey, former Head of Public Private Partnerships (PPP) at the Ministry of Roads and Highways, has advocated for decentralising PPPs in Ghana to boost national development. He proposes…
Business International investment Bernice Makafui Brempong replaces Yofi Grant as GIPC CEO January 30, 2025 Ekemini The Ghana Investment Promotion Centre (GIPC) has announced the appointment of Dr. Bernice Makafui Brempong as its new Chief Executive Officer, effective January 29, 2025. She succeeds Yofi Grant, who…
Business Finance International Macroeconomic Ghana secures $2.8bn debt relief as official creditors sign MoU January 30, 2025 Ekemini Ghana has successfully secured $2.8 billion in debt relief after all 25 members of its Official Creditor Committee (OCC) signed a Memorandum of Understanding (MoU). This agreement, part of the…
Business investment Local Macroeconomic DMO announces results of January 2025 FGN bond auction, raises N669.94 billion January 30, 2025 Ekemini The Debt Management Office (DMO) of Nigeria announced the successful completion of its January 2025 Federal Government Bond Auction, raising a total of N669.94 billion. This figure includes N606.46 billion…
Business Finance investment Local Aradel reports N321.6 billion pre-tax profits, up 187% YoY January 30, 2025 Ekemini Aradel Holdings Plc posted an impressive N321.6 billion profit before tax for the 2024 financial year, marking a 187% increase year-over-year. The company’s revenue surged by 162.74% to N581.022 billion,…
Business investment Local FG launches framework to attract direct investment January 30, 2025 Ekemini The Federal Government of Nigeria has launched the Regulatory Impact Analysis (RIA) Framework to enhance the business environment and attract Foreign Direct Investment (FDI). The World Bank has pledged $750…
Business Finance Local Nigeria’s Electronic Transactions Surge to N1.08 Quadrillion in 2024, Up 79% January 30, 2025 Ekemini Nigeria’s electronic payment ecosystem experienced remarkable growth in 2024, with transactions reaching an all-time high of N1.08 quadrillion. This marks a 79% increase compared to 2023, according to data from…
Business Finance investment Local Unilever posts N4.9bn profit January 30, 2025 Ekemini Unilever Nigeria Plc posted a profit of N4.9bn for the fourth quarter of 2024, reflecting a 29% decline from the N6.87bn profit recorded during the same period in 2023. Despite…
Business Local Macroeconomic TotalEnergies records N1.04tn revenue January 30, 2025 Ekemini TotalEnergies Marketing Nigeria Plc has posted impressive financial results for the year ending December 31, 2024, reporting a significant revenue increase of 64%, reaching N1.04 trillion, up from N635.95 billion…
Business Local Macroeconomic Nigeria Joins International Port Community System Association to Enhance Maritime Operations January 30, 2025 Ekemini The Nigerian Ports Authority (NPA) has announced that Nigeria has been admitted as a member of the International Port Community System Association (IPCSA). This milestone was revealed by Dr. Abubakar…
Business investment Local Sustainable Capital Acquires 9.96% Stake in Seplat Energy, Strengthening Influence January 30, 2025 Ekemini Sustainable Capital Ltd, a Mauritius-based investment firm, has secured a 9.96% stake in Seplat Energy Plc, gaining voting rights in the Nigerian oil and gas company. The acquisition, finalized on…
Business International Technology Zuck shrugs off DeepSeek, vows to spend hundreds of billions on AI January 30, 2025 Ekemini Meta’s stock may have remained unaffected by speculation surrounding DeepSeek’s AI models, which sent Nvidia’s shares plummeting by nearly 20%. CEO Mark Zuckerberg assured that Meta will continue investing heavily…
Finance International Technology Crypto exchange Crypto.com to delist Tether’s USDT,9 others in Europe by Jan. 3 January 30, 2025 Ekemini Cryptocurrency exchange Crypto.com has announced plans to delist Tether’s USDT and nine other tokens in Europe by January 31, 2025. The move aligns with the Markets in Crypto-Assets Regulation (MiCA)…
Business Finance Local ABCON Calls For BDCs’ Merger Ahead Of June Recapitalisation Deadline January 30, 2025 Ekemini The Association of Bureau De Change Operators of Nigeria (ABCON) has called on Bureau de Change (BDC) operators to consider mergers to meet the Central Bank of Nigeria’s (CBN) new…
Business Local Macroeconomic FG secures $1.1bn AfDB loan to power 5m people by 2026 — Tinubu January 30, 2025 Ekemini The Federal Government of Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to provide electricity to five million people by the end of 2026. This…
Business Finance Local Market integrity: NGX RegCo, EFCC deepen collaboration January 30, 2025 Ekemini NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to address market surveillance and financial crimes in Nigeria’s digitalized capital…
Business Local Macroeconomic Naira Sustains Gain On Parallel Market, Weakens To N1,534/$1 On NEFM January 30, 2025 Ekemini The naira saw a continued appreciation in the parallel market for the second consecutive day, rising by N10 to reach N1,640 per dollar by the close of trading on Tuesday,…
Business investment Local Demand for Aradel Holdings, 25 Others Lift Stock Market by N365bn January 30, 2025 Ekemini Aggressive investor demand for Aradel Holdings Plc and 25 other companies boosted the Nigerian stock market by N365 billion. The market capitalization reached N64.521 trillion, and the NGX All-Share Index…
Business International Macroeconomic US Stock Market Faces Uncertainty Amid Tech Struggles and Fed Policy Concerns January 30, 2025 Ekemini The U.S. stock market is facing increasing risks, with cracks appearing in the technology sector and uncertainty surrounding future interest rate cuts. Recent mixed results from tech giants like Microsoft,…
Business International Macroeconomic Rising Imports and Trade Deficit Slow U.S. Economic Growth in Q4 January 30, 2025 Ekemini The U.S. economy likely grew at a slower pace in the fourth quarter of 2024, with GDP estimated to have risen at an annualized rate of 2.6%. A surge in…
Business Finance investment Local Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal January 30, 2025 Ekemini President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026, leveraging a combination of fiscal and monetary policies. The Central Bank of Nigeria (CBN)…
Business International Technology Microsoft shares slide as cloud forecast, AI spending disappoint January 30, 2025 Ekemini Microsoft’s stock fell 4.5% in after-hours trading after the company forecasted lower-than-expected growth for its cloud computing business, Azure. Despite beating overall revenue estimates, investors remain concerned about heavy capital…
Business International Technology Microsoft shares slide on cloud outlook; Meta up after Q4 beat January 30, 2025 Ekemini Microsoft’s shares dropped by 4.5% in Europe, following a weak forecast for its cloud business. This decline mirrored a similar drop in after-hours trading in the U.S., contributing to an…
Business Economy Local CBN nears completion of $2.4bn FX backlog verification, payments to begin soon January 30, 2025 Ekemini The Central Bank of Nigeria (CBN) is finalizing the verification process for the remaining $2.4 billion foreign exchange (FX) backlog, with payments for valid claims set to begin soon. CBN…
Business Finance Local Cashless economy deepens as electronic transactions hit N1.08qd January 30, 2025 Ekemini Nigeria’s electronic transactions surged by 79% in 2024, reaching a record N1.08 quadrillion, according to data from the Nigeria Inter-Bank Settlement System (NIBSS). The steady rise, from N72.11 trillion in…
Business Finance investment Local Equity market reverses loss, investors gain N364bn January 30, 2025 Ekemini The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index surged by 0.57% to close at 104,549.74 points. This marked…
Business Economy Finance Local NECA Applauds CBN’s FX Code, Calls for Effective Implementation January 30, 2025 Ekemini The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for introducing the Nigerian Foreign Exchange (FX) Code, describing it as a crucial step towards enhancing…
Business Finance Local Four FCMB customers win N1m each January 30, 2025 Ekemini First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its Millionaire Promo Season 10. Additionally, 900 other participants won cash prizes…
Business Finance Local Outstanding $7bn FX cleared, says Cardoso January 30, 2025 Ekemini The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the government has successfully cleared a $7 billion foreign exchange backlog after a verification process by forensic…
